Freshpet (NASDAQ:FRPT) Lifted to “Sell” at StockNews.com

StockNews.com upgraded shares of Freshpet (NASDAQ:FRPT) to a sell rating in a report released on Wednesday morning.

Several other equities analysts also recently commented on the stock. Citigroup began coverage on shares of Freshpet in a research note on Thursday, February 1st. They issued a neutral rating and a $94.00 price target for the company. DA Davidson upped their price target on Freshpet from $104.00 to $138.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Stifel Nicolaus increased their price target on Freshpet from $115.00 to $135.00 and gave the company a buy rating in a research report on Thursday, April 11th. Truist Financial raised Freshpet from a hold rating to a buy rating and boosted their price objective for the stock from $120.00 to $135.00 in a research report on Monday, March 11th. Finally, Piper Sandler boosted their price target on shares of Freshpet from $100.00 to $130.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Freshpet presently has an average rating of Moderate Buy and an average price target of $107.36.

Freshpet Price Performance

FRPT opened at $104.60 on Wednesday. The stock’s 50-day moving average price is $107.11 and its 200 day moving average price is $86.36. Freshpet has a 12-month low of $54.60 and a 12-month high of $117.76. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -147.32 and a beta of 1.23. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. As a group, sell-side analysts expect that Freshpet will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott James Morris sold 2,500 shares of Freshpet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,709,007.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,762 shares of company stock valued at $1,737,280. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Freshpet

Large investors have recently bought and sold shares of the business. JANA Partners Management LP acquired a new position in Freshpet in the third quarter valued at $214,405,000. Norges Bank acquired a new position in Freshpet in the 4th quarter valued at about $40,327,000. Lord Abbett & CO. LLC purchased a new stake in Freshpet during the 3rd quarter valued at approximately $28,044,000. Jennison Associates LLC lifted its position in Freshpet by 36.6% during the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after acquiring an additional 245,403 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Freshpet by 211.6% in the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after purchasing an additional 234,836 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.